Retailers: How to better position stores for growth

The 2016 holiday shopping season just ended, but there are lessons to be learned from the strong growth in both the e-commerce and m-commerce spaces. Lessons that smart retailers can turn into a stronger Q1 of 2017.

by Kristina Knight

Kristina: How do you see retailers making better use of their spaces both physical and online? and should bigger brands begin thinking now about mobile retail growth?

Brent Franson, CEO, Euclid Analytics: Smart brick and mortar retailers know that it's a balance between offline and online. Macy's, for example, announced that it was closing 100 stores and investing more heavily in digital and mobile. But by no means is Macy's abandoning ship for digital - it's also focusing on its highest-performing stores and with good reason. Stores that weave in the online elements consumers enjoy most- such as personalization and convenience - with engaging touches that can only existing in real life will dominate.

Kristina: What can retailers do now to prep for better mobile positioning?

Brent: Be pragmatic. This is a classic "if you can't beat 'em, join 'em" game. Our research shows that consumers are a distracted bunch - they're using their phones to search for products, check Facebook and Amazon, and even take pictures of merchandise. Meet customers where they are and offer deals or freebies, store maps, inventory counts, etc., on mobile.

Kristina: What about beacons - experts seem divided on the usefulness of these systems. Is there anything retailers can do to make beacons work better for them?

Brent: The question is how beacon providers can reduce the amount of effort retailers have to expend when it comes to beacons. Again, I'm rooting for beacons but between the disproportionate outlay of effort to the low consumer adoption rates, we're just not there now and it's increasingly likely we won't get there.

Tags: ecommerce, ecommerce trends, Euclid Analytics, retail tips, retail trends